Top Glove shares up on company’s capacity expansion news
Shares of Top Glove Corporation were higher on news the biggest nitrile glove producer is expanding capacity. — Malay Mail pic
KUALA LUMPUR, June 19 — Shares of Top Glove Corporation were higher on news the biggest nitrile glove producer is expanding capacity to produce between 25 billion and 30 billion gloves annually.“We continue to like Top Glove for its expansionary plans, focus and continual efforts at improving quality and operational efficiency, alongside its position as the largest rubber glove manufacturer,” it added.
The research house said Top Glove would be able to revive its margins in the fourth quarter financial year 2019 to the 16 per cent level, as the company had hiked the selling price of its natural rubber gloves, to match raw material price movement. However, it noted the company would continue to face pressure on margins in calendar year 2019 due to the 13.1 per cent influx of nitrile glove supply by the top rubber producers, as well as from Thailand-based Sri Trang, with plans to increase latex glove supply to 30 billion pieces .At 11.45am, shares of Top Glove rose six sen to RM4.93 with 1.17 million shares transacted. — Bernama
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
In Najib trial, documents show top SRC execs colluded on RM140m S. American ‘investment’ | Malay MailKUALA LUMPUR, June 17 — Documents suggesting former SRC International Sdn Bhd chief executive Nik Faisal Ariff Kamil had colluded with the company’s former director Datuk Suboh Md Yassin concerning a 2014 transaction of RM140 million that was meant to be invested in South America were revealed...
Read more »
Court: Top Swiss prosecutor must recuse himself from Fifa case | Malay MailGENEVA, June 19 ― Switzerland's Attorney General Michael Lauber committed professional misconduct in his handling of the massive corruption investigation targeting Fifa and must recuse himself from the case, a Swiss court said yesterday. Regulators opened a disciplinary investigation last month...
Read more »
Top Glove’s Q3 net profit falls to RM74.67b | Malay MailKUALA LUMPUR, June 18 — Top Glove Corporation Bhd’s net profit fell 36.5 per cent to RM74.66 million for the third quarter ended May 31, 2019 from RM117.57 million in the same period last year, mainly attributed to a sharp upward movement in the natural rubber latex price. In a filing with...
Read more »
Malaysia listed top 10 wellness tourism markets in Asia Pacific, says Matta president | Malay MailKUALA LUMPUR, June 17 — Malaysia is listed in the top 10 wellness tourism markets in Asia Pacific with a positive growing trend in the future, said the Malaysian Association of Tour and Travel Agents (Matta) president Datuk Tan Kok Liang. “Wellness tourism is the fastest growing travel sector...
Read more »
SRC board ex-chairman: Jho Low was close to many top company execsKUALA LUMPUR: A number of top-level SRC International Sdn Bhd executives were close associates of fugitive businessman Low Taek Jho.
Read more »
Maybank stops offering rewards and cashback for eWallet top-ups by card | SoyaCincau.comshares Facebook Twitter Google+ WhatsAppIf you use Maybank cards to top up your eWallet, it appears that your double dipping days are almost over. The bank has announced that they are ceasing rewards and cashback for eWallets top-ups with their issued payment cards sometime next month. This is applicable to all Malaysian third-party eWallets and …
Read more »